Thursday, October 23, 2008

Greenspan sees 'credit tsunami'

Former Fed chairman says crisis will pass, and U.S. will end up with 'far sounder financial system.'...NEW YORK (CNNMoney.com) -- Former Federal Reserve Chairman Alan Greenspan told a House committee Thursday that the nation will emerge from the current credit crisis with a "far sounder financial system.""We are in the midst of a once-in-a century credit tsunami," Greenspan told the House Oversight and Reform Committee.